VC  Anthem Capital Management

     Office Locations:

1448 South Rolling Road, Suite 200
Baltimore, MD 21227
Phone: 410-625-1510
Fax: 410-625-1735



  • Early
  • Expansion
  • Growth



  • Communications & Networking
  • Information Technology
  • Life Sciences & Healthcare
  • Medical Device
  • Software & Internet



    Anthem invests exclusively in the Mid-Atlantic and seeks opportunities in IT/telecom and healthcare/life sciences industries including enterprise software or network management software companies. Medical investments tend to fall into three categories: medical devices, biotechnology or healthcare. Anthem seeks to invest between $2 million and $5 million in a company from the first private equity round through exit. Anthem invests in early to expansion stage opportunities. Anthem's initial investment is usually made in the Series A or Series B institutional venture capital round. Typically, the firm's initial investment ranges from $1 million to $2 million.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Bill Gust Partner
    Ed Spiva Partner
    Gerry Schaafsma Partner
    Xander Perry Partner


    Portfolio companies include:

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      Grab Networks
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      Sensors for Medicine and Science
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      Systech International
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